以太坊（ETH）正在经历投资者利益的激增，因为情绪枢轴远离比特币（BTC）

诸如Taker买卖比率和成本基础分布（CBD）之类的初级指标现在正在为比特币描绘以太坊的图片。

Recent market data suggests that traders are pivoting their interest away from Bitcoin ($BTC) and toward Ethereum ($ETH) in the near term. This shift in sentiment is evident in several key metrics, including the taker buy-sell ratio and the cost basis distribution (CBD).

最近的市场数据表明，贸易商在短期内将其利益从比特币（$ btc）和以太坊（$ eth）转移。在几个关键指标中，这种情绪转变显而易见，包括Taker购买比率和成本基础分布（CBD）。

A closer look at these metrics reveals a bullish outlook for Ethereum compared to Bitcoin, especially considering that ETH's price itself is undergoing a period of buildup. This trend is unfolding even as BTC continues to face waning demand in the market.

与比特币相比，对这些指标的仔细研究表明，对以太坊的看法是看好以太坊的看法，尤其是考虑到ETH的价格本身正在建立一段时期。即使BTC继续面临市场需求，这种趋势也在不断发展。

Traditionally, when the taker buy-sell ratio for Bitcoin starts to decline while Ethereum's rises, it indicates a trend reversal in which Ethereum starts to outperform Bitcoin. And that is precisely what we are witnessing now in the crypto market.

传统上，当比特币的Taker购买比率开始下降时，以太坊的升高时，这表明趋势逆转以太坊开始胜过比特币。这正是我们现在在加密货币市场中所目睹的。

Bitcoin's buy-sell ratio has been dropping for some time, and this, of course, reflects diminishing buying momentum and a less rosy forecast in the short run for Bitcoin. At the same time, Ethereum's ratio is rising, which points to quite the opposite scenario for Ethereum—that is, it is enjoying a nice upsurge in buying interest and investor sentiment.

比特币的买卖比率已经下降了一段时间，当然，这反映了购买势头的减少和比特币短期内的玫瑰色预测。同时，以太坊的比例正在上升，这表明以太坊的情况相反，也就是说，它在购买兴趣和投资者的情绪方面享受着一个不错的增长。

This shifting market dynamic indicates that an increasing number of investors are turning to Ethereum, probably because of the recent updates to the network and its rising popularity in areas like DeFi, non-fungible tokens, and layer-2 solutions. With Bitcoin's supremacy in the market starting to wane, Ethereum is definitely the next contender to capture the spotlight, especially as institutional appetite for blockchain alternative assets continues to swell.

这种不断变化的市场动态表明，越来越多的投资者转向以太坊，这可能是因为最近对网络的更新及其在诸如DEFI，无易于康复的代币和第2层解决方案等领域的受欢迎程度不断提高。随着比特币在市场上的至高无上的开始，以太坊绝对是吸引聚光灯的下一个竞争者，尤其是随着区块链替代资产的机构胃口的持续膨胀。

This burgeoning Ethereum momentum is most evident in the cost basis distribution (CBD) for Ethereum. The CBD for Ethereum is trending down across multiple cost bases, signaling that investors have been stocking up on Ethereum as its price has dipped. This accumulation behavior is even more remarkable when you consider that most of the time, when we're seeing price decreases, those decreases are accompanied by an increase in trading volume. And volume is usually associated with price discovery or some discernible reason for buyers or sellers to be trading.

在以太坊的成本基础分配（CBD）中，这种新兴的以太坊势头最为明显。以太坊的CBD正在跨多个成本基础下降，这表明投资者随着价格下跌而储备以太坊。当您考虑大多数情况下，当我们看到价格下降时，这些累积行为就会变得更加显着，这些下降伴随着交易量的增加。而且数量通常与价格发现或买卖双方交易的某些明显原因有关。

Ethereum's main support area is roughly around $2,632, which is where about 786,660 ETH is stashed. That's an important price level that has become a sort of threshold for Ethereum, where you're seeing buyers come in and trying to step it up. Conversely, the primary resistance level is at about $3,149, where roughly 1.22 million ETH is held. Accumulation and resistance zones at those price points are pretty much dictating the Ethereum price with say a 90 to 95 percent chance of hitting one of those thresholds when you're looking at short to medium price action.

以太坊的主要支持区约为2,632美元，这是藏匿约786,660 ETH的地方。这是一个重要的价格水平，已经成为以太坊的门槛，您正在看到买家进来并试图加强它。相反，主要阻力水平约为3,149美元，大约有122万个ETH。在这些价格点处的积累和阻力区几乎决定了以太坊价格，当您考虑短时间到中价行动时，有90％至95％的机会达到其中一个门槛。

$ETH Cost Basis Distribution (CBD) shows multiple cost bases have been moving lower, indicating investors have been accumulating on the way down. Accumulation zones show key support at $2,632 (786.66K #ETH) and resistance at $3,149 (1.22M #ETH): https://t.co/ARq7wTmIpy pic.twitter.com/SwJaWn0u8L

$ ETH成本基础分配（CBD）表明，多个成本基础一直在降低，这表明投资者在下降的途中已经积累了。累积区域的主要支持为$ 2,632（786.66k #ETH），抵抗力为$ 3,149（122万#eth）：https：//t.co/arq7wtmipy pic.twitter.com/swjawn0u8l

— glassnode (@glassnode) February 24, 2025

- 2025年2月24日，玻璃节（@GlassNode）

Accumulating at lower prices is a trend we've seen with other assets, like Maker ($MKR), where investors have displayed countermarket behavior by lowering their cost basis and holding through dips. For Ethereum, this is a similar play. If Ethereum investors were to behave in a countermarket fashion, that would mean they are accumulating at lower prices. If we see these same investors holding through dips and not panicking, then what we have here is a strong long-term play with a potentially not-so-volatility-prone asset.

以较低的价格积累是我们在其他资产中看到的趋势，例如制造商（$ MKR），在该资产中，投资者通过降低其成本基础并通过下降来表现出反市场行为。对于以太坊来说，这是类似的戏。如果以太坊投资者的行为方式相反，那将意味着他们以较低的价格积累。如果我们看到这些相同的投资者在下跌而不慌张的情况下，那么我们在这里拥有的长期发挥具有强大的长期发挥，潜在的不易易应性资产。

Ethereum's Spot ETF Inflows Signal Positive Market Sentiment

以太坊的斑点ETF流入信号信号积极市场情绪

Finally, a glance at the respective ETF inflows for Bitcoin and Ethereum over the past month shows that Ethereum is moving on a path toward significant global adoption. Performance in the ETF space is just one of many signaling mechanisms moving Ethereum this way. This ETF space performance, meanwhile, is in stark contrast to what’s happening with the Bitcoin ETF. Inflows to the Bitcoin ETF space have really dried up; they're down about 36% over the past month. So, while something seems to be going on with the Bitcoin ETF in terms of maybe senderial performance, the Ethereum ETF is not just outpacing it at this point. Both are obviously still kind of small in the grand scheme, but Ethereum ETF inflows are up; Bitcoin ETF inflows are down.

最后，在过去一个月中，比特币和以太坊各自的ETF流入表明，以太坊正在迈向大量全球采用的道路。 ETF空间中的性能只是这种方式移动以太坊的许多信号机制之一。同时，这种ETF空间性能与比特币ETF发生的情况形成了鲜明对比。流入比特币ETF空间的流入确实干燥了。在过去的一个月中，他们下降了约36％。因此，虽然比特币ETF的某些事情在可能的情况下可能正在发生，但以太坊ETF在这一点上不仅要超过它。两者在宏伟的计划中显然仍然很小，但是以太坊ETF的流入却在上升。比特币ETF流入量下降。

Last week (February 18 to February 21, US Eastern Time), the Bitcoin spot ETF had a net outflow of US$559 million, and the Ethereum spot ETF had a net inflow of US$1.61 million. https://t.co/Tvs2oCS03I

上周（2月18日至2月21日，美国东部时间），比特币现场ETF的净流出为5.59亿美元，Ethereum Spot ETF的净流入净流入为161万美元。 https://t.co/tvs2ocs03i

— Wu Blockchain (@WuBlockchain) February 24, 20

- WU区块链（@wublockchain）2月24日，20日